Collaboration is a Key Success Factor in Bio/Med Business

Dec. 21, 2010 - PRLog -- ROCHESTER, NY—In today’s bioscience and medical technology industry, more and more large companies are looking to their smaller and mid-sized counterparts for emerging technologies that present business opportunities. During this month’s MedTech Institute program, Collaborating with Large Companies, presenters from Johnson & Johnson, Bausch + Lomb and Corning, Inc. offered small businesses and universities from Upstate New York their first-hand insights for getting inside large companies.

The program featured Ted Farrell, vice president of program management at Ortho Clinical Diagnostics, a Johnson & Johnson company, George Grobe, vice president of vision care research and development at Bausch + Lomb, and Bruce Kirk, director of corporate innovation effectiveness at Corning, Inc. According to the speakers, building productive and mutually beneficial relationships with large companies is a complicated process, but one that is essential for technology development. Creating synergy with a cohesive partnership can be just as important as presenting an attractive business opportunity.

“More lively and more frequent discussions drive better technology development,” said Grobe. In that respect, partnering with companies in close proximity is beneficial, he explained during the workshop.      

Michael Dwyer, director of research relations at the Rochester Institute of Technology, also emphasized the benefits of local collaboration. RIT’s Research Relations office connects companies and researchers to collaborate on innovation projects and to support corporate research and development needs.

Bausch + Lomb hosted Collaborating with Large Companies on Tuesday, Dec. 7 at its vision care facility in Rochester. Twenty-two participants from Upstate New York’s Bio/Med community received certificates of completion from MedTech. The next MedTech Institute program, Surviving a Recall: Strategies for Avoidance, Mitigation and Survival will be held Tuesday, Feb. 2 in Buffalo. For more information, visit http://medtech.org/events.aspx.

ABOUT MEDTECH INSTITUTE
MedTech Institute is a comprehensive slate of programming geared toward advancing the awareness, skills and success of Bio/Med professionals in Upstate New York. Instructive seminars, training, workshops and certification opportunities cover a wide range of regulatory, technical and professional topics. To learn more, visit http://medtech.org/events/institute.aspx.

ABOUT MEDTECH
MedTech is an active association of pharmaceutical, biotech, and medical technology companies, their suppliers and service providers, and research universities. We boost the growth and prosperity of our members by connecting them for collaboration, offering educational programs, sharing news and information, and advocating for the industry with government and leaders. Our mission is to develop the relationships, tools and programs that enable Upstate New York companies to bring tomorrow’s medical solutions to the healthcare marketplace. For more information, visit http://www.medtech.org.

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MedTech is an active association of pharmaceutical, biotech, and medical technology companies, their suppliers and service providers, and research universities. For more information, visit http://www.medtech.org.